Investors eye West Bengal as new policy promises land, security, and growth
The West Bengal government is developing a new industrial policy, set to be finalised by August 15 after consultations with industry leaders
West Bengal is set to unveil a new industrial policy, with Minister Tapas Roy engaging industry leaders for suggestions on August 11th at Nabanna, aiming for a finalized draft by August 15th. The policy is expected to foster a more attractive business environment by tackling issues like 'cut money' and syndicate culture, while also focusing on creating a land bank to facilitate industrial growth
West Bengal is set to unveil a new industrial policy, with Minister Tapas Roy engaging industry leaders for suggestions on August 11th at Nabanna, aiming for a finalized draft by August 15th. The policy is expected to foster a more attractive business environment by tackling issues like 'cut money' and syndicate culture, while also focusing on creating a land bank to facilitate industrial growth
West Bengal is set to unveil a new industrial policy, with Minister Tapas Roy engaging industry leaders for suggestions on August 11th at Nabanna, aiming for a finalized draft by August 15th. The policy is expected to foster a more attractive business environment by tackling issues like 'cut money' and syndicate culture, while also focusing on creating a land bank to facilitate industrial growth
West Bengal will soon have an industrial policy, which the state has been lacking since 2025. On August 11, Industry Minister Tapas Roy will meet industry leaders at the state secretariat, Nabanna, to consider suggestions on drafting an industrial policy that is expected to be ready by August 15.
“It is a norm to call all industrialists and industry bodies. We have to listen to them and reflect on their suggestions before finalising the industrial policy,” said Roy.
The state budget presented in June by Finance Minister Dr. Swapan Dasgupta gave some indication of what the future of industry will be in the state. The BJP government is optimistic about implementing promises with ambitious plans of giving land to 25 industrialists in September, and investors are pouring into West Bengal given the assurances of a conducive business environment. This includes taking stern action against "cut money" and the syndicate culture that marred the reputation of the erstwhile Trinamool Congress (TMC) government, which can be seen now in the current regime too.
“If a complaint comes to us, including the party president and chief minister, action will be taken instantly,” said Roy.
The minister also said currently there is no land bank, but the state is looking to create one along with the industrial policy. “We are working on that. This is a political problem we have to solve. There are land mafias. They have created problems, so we have to take that into account,” explained Roy.
The murmurs of the Tata Group coming back to West Bengal are not without complications, which the West Bengal government is trying to sort out. “The amount is more than ₹750 crore with interest. Mamata Banerjee has dumped everything on us, along with ₹8 crore interest and court cases. Where will industry be set up?” added Roy.
In 2023, an arbitral tribunal had asked the West Bengal Industrial Development Corporation (WBIDC) to settle the compensation matter of ₹766 crore with 11 per cent annual interest to Tata Motors from September 2016, after their exit in 2008 following anti-land acquisition protests.
The government is looking to speed up the process by sorting out pending issues, which will instil confidence among investors to give Bengal a shot at being on par with other industry-friendly destinations in the country.